It has a lot of the same strengths and weaknesses as something like Tron Legacy:
+ Amazing score and VFX
- Bad dialogue and tedious exposition dumps
There was once a magical time in Hollywood where studios would invest close to $200M on actual original ideas. It sounds too crazy to believe now, but ambitious gambles like Waterworld used to be par for the course until studios discovered spandex superheroes.
Even if all you know about this movie is its box office, this 'Mad Max on the high seas' has enough imaginative flourishes and nutty showmanship to hold its own against most modern blockbusters. Highly recommended to any fan of bonkers action cinema.